SIBLEY, Circuit Judge.
The taxpayer received in June, 1921, shares of corporate stock having a fair market value at that time of $116,800, which the Board of Tax Appeals held to be a taxable gain in that year. The ruling is complained of. The stock came to the taxpayer because of a contract made in 1917 by herself and others with one Wier, whereby the former parties agreed to the cutting and removal of merchantable timber on 86,000 acres of their land in Texas by...
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